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Price and financial stability - managing complementarities and trade-offs

· Shaktikanta Das, Governor of the Reserve Bank of India (India)

Summary written by Dark Majestic in its own words · topics: monetary policy and interest rates, inflation and price stability, financial stability, banking regulation and supervision

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· Shaktikanta Das Wiki · Reserve Bank of India WikiPrice and financial stability - managing complementarities and trade-offs

ContextPlenary address by Shaktikanta Das, Governor of the Reserve Bank of India, at the Kautilya Economic Conclave, organised by the Institute of Economic Growth and Ministry of Finance, Government of India, New Delhi, 20 October 2023.

Why it mattersDas explains how macroprudential tools help reconcile price and financial stability.

Problems raised
  1. Price stability and financial stability can conflict.
  2. Global shocks create uncertainty.
  3. Inflation remains above target.
Solutions proposed
  1. Manage complementarities between the two goals.
  2. Use macroprudential tools alongside monetary policy.
  3. Keep inflation expectations anchored.
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